Pure Cycle (NASDAQ:PCYO) Stock Passes Above 200 Day Moving Average - What's Next?

Key Points

• Pure Cycle shares moved above their 200-day moving average, reaching $11.23 before last trading at $11.12, compared with a 200-day average of $10.81.
• The company reported quarterly EPS of $0.12 on $8.22 million in revenue, with a 43.66% net margin and 9.98% return on equity.
• Analyst sentiment remains neutral: Weiss Ratings downgraded the stock’s rating within the “Hold” category, and the consensus rating is “Hold.” Institutional investors and hedge funds own 51.39% of the shares.

Shares of Pure Cycle Corporation (NASDAQ:PCYO - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $10.81 and traded as high as $11.23. Pure Cycle shares last traded at $11.12, with a volume of 66,012 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Pure Cycle from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold".

Pure Cycle Stock Performance

The firm has a market cap of $267.99 million, a price-to-earnings ratio of 18.23 and a beta of 1.23. The stock's 50 day moving average is $10.97 and its 200 day moving average is $10.81. The company has a current ratio of 1.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.08.

Pure Cycle (NASDAQ:PCYO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 8th. The utilities provider reported $0.12 earnings per share (EPS) for the quarter. Pure Cycle had a net margin of 43.66% and a return on equity of 9.98%. The firm had revenue of $8.22 million during the quarter.

Institutional Trading of Pure Cycle

Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in Pure Cycle by 143.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,634 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 1,552 shares during the period. California State Teachers Retirement System increased its position in Pure Cycle by 160.2% during the 2nd quarter. California State Teachers Retirement System now owns 2,935 shares of the utilities provider's stock worth $31,000 after buying an additional 1,807 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Pure Cycle by 64.0% during the third quarter. BNP Paribas Financial Markets now owns 3,878 shares of the utilities provider's stock worth $43,000 after buying an additional 1,513 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Pure Cycle by 11,145.1% during the second quarter. Lazard Asset Management LLC now owns 5,735 shares of the utilities provider's stock worth $61,000 after buying an additional 5,684 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Pure Cycle by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 10,984 shares of the utilities provider's stock valued at $122,000 after acquiring an additional 1,521 shares during the period. 51.39% of the stock is owned by institutional investors and hedge funds.

About Pure Cycle

Pure Cycle Corporation NASDAQ: PCYO is a Colorado-based utility and real estate development company focused on water resource management and land development along the Front Range. The company's core operations involve the acquisition, treatment and distribution of potable water, as well as the collection and treatment of wastewater, serving suburban and rural communities in the Denver metropolitan area. Pure Cycle holds substantial water rights and operates distribution and treatment facilities under a regulated utility model, providing essential services to residential and commercial customers.

In addition to its water utility business, Pure Cycle engages in real estate development, leveraging its water assets to create fully serviced residential communities.

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